To remind, Japanese Ministry of Economy, Trade and Industry (METI) started compiling the data in March 2014.
In its latest monthly report, the ministry noted the contract-based spot LNG price for May reached $2.2 per mmBtu. The price slipped from $2.4 per mmBtu in the previous month pushed by the continued effect of coronavirus pandemic on commodities demand.
Compared to May 2019 when METI reported a contract-based price of $5.4 per mmBtu, the price slipped 59.3 per cent.
The arrival-based price slipped 13.3 per cent. METI shows the price reaching $2.6 per mmBtu, which compares to $3 per MMBtu in April.
Compared to May 2019, the arrival-based price slipped 50.9 per cent. To remind, the May 2019 arrival-based price was at $5.3 per mmBtu.
Only spot LNG cargoes are taken into account in this assessment, excluding short, medium and long-term contract cargoes, as well as those linked to a particular price index.
TURKISH MARITIME NEWS